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No harm in reviewing PPAs: Lagadapati

By Our Special Correspondent

VIJAYAWADA, JUNE 26. The Vijayawada MP and the former chairman of the Lanco Group of Industries, Lagadapati Rajagopal, has no objection to the Government's moves to review the power purchase agreements (PPAs) the previous TDP Government entered into with independent power projects (IPPs).

``The review in itself does not mean scrapping of the agreements. It covers a broad spectrum of the technicalities involved in the agreement for exploring the possibilities of reduction in the prices,'' Mr. Rajagopal said.

Replying to queries at a Meet-The-Press programme organised by the Andhra Pradesh Union of Working Journalists here on Saturday, Mr. Rajagopal said that the review of PPAs was also aimed at restructuring the payments and it might also pave way for according permission for third party sale to IPPs depending on whether or not the Government was in a position to pay the charges agreed to in the agreements.

In the event of the Government permitting third party sales, the IPPs would stand to benefit as there were many takers from other States which were willing to pay higher prices to the power. "This will not augur well for the Government, as only the IPPs will be benefited in the process,'' he said.

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